Automation in Insurance Industry: 5 Reasons Why It Works Picture this. It‘s the year 2030. Your car hits a signage accidentally. Your personal insurance assistant immediately assesses the damage and photographs your vehicle from all angles. It then notifies you that the drones have been dispatched to your location for inspection, and that the reports […]
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How Exdion helped HNI save 30% costs in Policy Checking An insurance company issued a client an insurance policy that included blanket coverage for multiple commercial properties. A fire broke out at one of the properties, resulting in a financial loss that exceeded the insurance limits. The client had requested policy coverage per property, which
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5 Ways to Drive Value with Insurance Analytics Verdon Taylor, a Florida resident, seemed to be a magnet for fire disasters. Combustion accidents repeatedly befell his cars, belongings and mobile homes. This phenomenon seemed to rub off on his friends and family too. When his case was finally brought to court, it was revealed that
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Best Practices Insurance Agencies should follow for Effective Compliance The importance of compliance cannot be undermined. When it comes to insurance regulations, we all pursue the same goal. Every company aims to provide the best protection for its clients. How can you be sure that you are working towards the same goal? When it comes
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Five Important KPIs for Effective Contract Compliance Management Compliance contract managers are under constant pressure to deliver higher business value while at the same time bringing down contract risks, decreasing contract costs and improving their contract performance. Research by IndustryWeek has found that organizations can easily save up to 80% more than others in costs
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How Can a Cyber Insurance Broker Help in Managing Risks? How many of you are familiar with the famous 2022 Tesla Hack? David Colombo, a 19-year-old white hacker from Texas, gained access to 25 Teslas in 13 countries. He disabled the security systems, manipulated the car controls and even played Rick Astley through Bluetooth speakers.
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Six Common Causes of Agency E&O Claims and how to overcome them Imagine there is a manufacturing firm that hires a consultant to calculate the long-term disability benefits of its employees. Somehow, he erroneously bases his calculations on the employee’s previous income instead of present salary. Due to the consultant’s negligence, the staff does not
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Immediate Need for Modernization of Legacy Insurance Process Did you know that Zurich Insurance Group (ZIG) became one of the early adopters of digital transformation? Encumbered by the challenges of enhancing customer experience (CX) and meeting client expectations, ZIG became the first company to automate its customer service with AI. It created the virtual assistant
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Automating Policy Administration for Policy Life-cycle Management QBE, a leading Australian insurance management company, faced challenges in improving its underwriting process and enhancing efficiency across its team. The enterprise soon identified the root cause of this underlying problem- an outdated policy administration process. To resolve this issue, QBE took the path of digital transformation. It
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Leverage Exdion’s AI-Powered Data Extraction Engine To Improve Sales Did you know that there is 2.5 quintillion bytes of data created every day? Data is ubiquitous. We’re generating it each time we search on the internet, when we make a purchase, or we log into our social media accounts. The amount of data being created today
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